Just weeks after the stunning HTC One M8 was officially unveiled, the Taiwanese manufacturer has posted a $62 million (£37.4m) loss for the first quarter of 2014.
Continuing HTC’s financial woes, the loss is the second major setback in the past three quarters, with the $62.06 million figure a pre-tax net loss from a revenue of $1.1 billion (£663m).
Running from January 1 2014 to March 31 2014, the Q1 loss does not include sales of the new HTC One M8, a metal-bodied phone, and direct Samsung Galaxy S5 rival which was formally unveiled and released in the UK on March 25.
Despite a slow start to the year, a period that could have been effected by anticipation of the new release, HTC has remained confident of growth during the coming months.
“The company expects to see positive trajectory of its revenue in April from March and forecasts quarter-on-quarter revenue growth in the second quarter,” an official statement from the manufacturer stated.
Although the flagship HTC One M8 has grabbed consumers’ attentions and turned industry heads, the company’s broader product portfolio – especially mid-range and lower-range offerings – has struggled heavily over the past year.
With fewer HTC handsets entering these markets, the HTC One maker has seen entry-level phone sales overpowered by a range of Samsung devices and the likes of the Motorola Moto G.
The HTC One M8 is a flagship powerhouse, with a 5-inch, 1080p Full HD display and Google’s latest Android 4.4.2 KitKat OS paired with a 2.3GHz quad-core Qualcomm Snapdragon 801 processor and an innovative, dual-lens 4-UltraPixel rear-mounted camera.
Read More: HTC One M8 vs Samsung Galaxy S5